Daily Chart Report 📈 Friday, December 8, 2023
Powered By:
Today’s Summary
Friday, December 8, 2023
Indices: Russell 2000 +0.67% | S&P 500 +0.41% | Nasdaq 100 +0.39% | Dow +0.36%
Sectors: 8 of the 11 sectors closed higher. Energy led, gaining +1.08%. Consumer Staples lagged, falling -0.69%.
Commodities: Crude Oil futures rose +2.73% to $71.23 per barrel. Gold futures dropped -1.56% to $2,015 per oz.
Currencies: The US Dollar Index rose +0.34% to $103.98.
Crypto: Bitcoin rose +2.08% to a 20-month high of $44,193. Ethereum was unchanged at an 18-month high of $2,359.
Volatility: The Volatility Index fell -0.26% to a 3-year low of 12.35.
Interest Rates: The US 10-year Treasury yield rose to 4.229%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi). The S&P 500 rose +0.21% this week, booking its first six-week winning streak since 2017. Mike points out that it's a good time to check on those long-term accounts with the index at 20-month highs. It broke out of a narrow two-week trading range today and cleared resistance at 4,600. This was the last major hurdle before testing the final boss of resistance... all-time highs at 4,800. With just 14 trading days left in 2023, the S&P 500 is just 4% from record highs, there's virtually no resistance standing in its way, and Santa comes to town soon.
Quote of the Day
"Feeling gratitude and not expressing it is like
wrapping a present and not giving it."
– William Arthur Ward
Top Links
December’s Quarterly Options Expiration Week Historically Bullish
Jeff Hirsch looks at how stocks have historically performed around December options expiration.
Top Charts from the Consumer Staples Sector - Grindstone Intelligence
Austin Harrison breaks down the Consumer Staples sector.
Monitoring the Relative Trends in Silver Miners - All Star Charts
Louis Sykes points out that Silver Miners are attempting to bottom relative to Gold Miners.
Investing In 2024 and Beyond - Ciovacco Capital Management
Chris Ciovacco examines what could be next for stocks in 2024.
Top Tweets